Adobe (NASDAQ:ADBE) Stock Price Down 0.2%

Adobe Inc. (NASDAQ:ADBE - Get Free Report) shares fell 0.2% during mid-day trading on Monday . The company traded as low as $475.35 and last traded at $476.66. 461,953 shares were traded during mid-day trading, a decline of 87% from the average session volume of 3,460,132 shares. The stock had previously closed at $477.56.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADBE. Evercore ISI reaffirmed an "outperform" rating and issued a $650.00 target price on shares of Adobe in a research note on Wednesday, March 27th. Mizuho reiterated a "buy" rating and set a $680.00 price target on shares of Adobe in a report on Wednesday, March 27th. HSBC lowered their price target on Adobe from $557.00 to $511.00 and set a "hold" rating for the company in a report on Friday, March 15th. JPMorgan Chase & Co. lowered their price target on Adobe from $600.00 to $570.00 and set a "neutral" rating for the company in a report on Friday, March 15th. Finally, BNP Paribas cut Adobe from a "neutral" rating to an "underperform" rating and set a $499.00 price target for the company. in a report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $620.72.

Adobe Stock Performance

The firm has a market capitalization of $211.94 billion, a price-to-earnings ratio of 45.23, a P/E/G ratio of 2.59 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $513.87 and a 200 day moving average price of $564.05.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, March 14th. The software company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.38 by $0.10. The firm had revenue of $5.18 billion during the quarter, compared to analysts' expectations of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The firm's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.97 earnings per share. On average, analysts forecast that Adobe Inc. will post 14.55 EPS for the current year.

Adobe announced that its board has authorized a stock repurchase program on Thursday, March 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 96 shares of the business's stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the sale, the chief accounting officer now owns 4,128 shares in the company, valued at $1,940,160. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Adobe news, CAO Mark S. Garfield sold 96 shares of the business's stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the sale, the chief accounting officer now owns 4,128 shares in the company, valued at $1,940,160. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Anil Chakravarthy sold 100 shares of the company's stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the sale, the insider now owns 33,609 shares of the company's stock, valued at approximately $15,829,839. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293 shares of company stock worth $137,656. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. HBC Financial Services PLLC acquired a new position in Adobe during the third quarter worth $25,000. Global Wealth Strategies & Associates grew its holdings in Adobe by 57.6% in the third quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company's stock valued at $27,000 after purchasing an additional 19 shares during the last quarter. Tradewinds Capital Management LLC grew its holdings in Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company's stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Adobe in the fourth quarter valued at $35,000. Finally, BluePath Capital Management LLC acquired a new stake in Adobe in the third quarter valued at $39,000. Institutional investors and hedge funds own 81.79% of the company's stock.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.